Lawyers, Laws & Taxes

Identity theft and phone scams in which a person contacting you impersonates an IRS agent and tries to steal your money top this year’s list. But amazingly, the IRS still has “hiding income offshore” as one of its Dirty Dozen. To which my reaction was, “Are you people out of your mind?”

In what I described as being the trial of our generation, Ross Ulbricht, of the Silk Road free market online marketplace, was found guilty today on all charges and now faces sentencing of 30 years to life.

There’s a good reason why Google, General Electric, Abbott, Honeywell, Johnson & Johnson, Microsoft, Oracle, Apple, and more or less all the other big corporations use offshore strategies: They provide tremendous tax advantages and thus, financial advantages.

Costa Rica imposes a Luxury Home Tax on property that is used for residential purposes and whose value for the fiscal year 2015 is greater than 128,000,000 Colones about US$241,509 at the current rate of exchange.